India Tops Global Remittances List

India Tops Global Remittances List

With the developing world on track to receive $414 billion in migrant remittances in 2013, an increase of 6.3 per cent over the previous year, India has again topped the global chart with $71 billion in remittances, according to a revised World Bank forecast.
Other top recipients of officially recorded remittances for 2013 are China ($60 billion), the Philippines ($26 billion), Mexico ($22 billion), Nigeria ($21 billion), and Egypt ($20 billion), the report said. The World Bank said migrant remittances to developing world is projected to jump to $540 billion by 2016.